Triangle Energy (TEG) Investor presentation summary

Exploration and resource potential

• High-value exploration program in the Perth Basin with significant oil and gas prospects, including 10 oil and 5 gas prospects across L7 and EP 437 permits.

• On-block unrisked prospective resources: 21 MMbbl (low), 46 MMbbl (best), and 104 MMbbl (high) oil; 97 Bcfg (low), 256 Bcfg (best), and 544 Bcfg (high) gas.

• Becos-1 well in EP 437 to spud in April 2025, targeting Bookara and Arranoo reservoirs with a best estimate of 5 MMbbl oil (2.5 MMbbl net) and high case of 21 MMbbl (10.5 MMbbl net).

• Potential third well (MH-28) in 2026, targeting multiple oil and gas zones with significant upside in near-basement gas play.

• New ventures include valuable acreage additions and international opportunities in the Philippines and Sulu Sea.

Financial position and asset transactions

• Market capitalization of $8.4 million and cash balance of $10.9 million as of December 2024.

• Divestment of Cliff Head Oil Field to Pilot Energy for up to $18 million, with staged payments and removal of abandonment liability.

• First payment of $2.4 million received; Pilot to pay ongoing operating costs and further $6.4 million by September 2026.

• Additional payments contingent on regulatory approvals and CCS royalty up to $7.5 million.

Development and monetization strategy

• Becos-1 discovery will lead to recalculation and reissue of contingent resources, followed by a delineation well.

• Plans to design a new oil export route via Geraldton port, leveraging existing infrastructure.

• Value per discovered barrel estimated at NPV10 $20, with a 20% chance of success for Becos-1.

• Collaboration potential with nearby large oil discoveries for export solutions.